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Tayman in Bloomberg BNA: CFPB’s Question Unanswered—What is ‘Abuse’?

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Goodwin Procter Consumer Finance Enforcement associate Kyle Tayman was recently published in Bloomberg BNA’s Banking Report for their article, CFPB’s Question Unanswered—What is ‘Abuse’?  The article takes the position that the Consumer Financial Protection Bureau’s silence on what exactly constitutes an ‘‘abusive’’ practice under the Dodd-Frank Act’s provisions governing ‘‘unfair,…

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2Q 2015 Sees Increase in Enforcement Litigation

For the second quarter of 2015, Consumer Finance Enforcement Watch tracked 56 enforcement actions taken against consumer finance providers, a slight uptick in enforcement activity from the previous quarter’s 46 actions.  Although the 56 actions ranged from court-enforcement consent settlement agreements, administrative settlements, administrative actions, civil judgments, and new civil…

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1Q 2015 Enforcement Trends

For the first quarter of 2015, Consumer Finance Enforcement Watch tracked 46 instances of enforcement activity taken against a consumer finance service provider.  Not surprisingly, the year started off slow with only 9 enforcement actions taken in January, likely due to agencies wrapping-up actions before year-end 2014. The 46 actions ranged…

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